Paramount has launched a US$108.4 billion (about C$150 billion) hostile takeover bid for Warner Bros. Discovery (WBD), directly challenging Netflix’s recently announced plans to acquire the entertainment giant .

In a news release, Paramount said Netflix’s US$82.7 billion (about C$114.5 billion) holds “inferior” value for WBD shareholders, arguing that it would lead to a “protracted multi-jurisdictional regulatory clearance process with an uncertain outcome.” Paramount claims its offer presents “a more certain and quicker path to completion” for WBD. It also says it wants to buy all of WBD, including its Global Networks business, which is home to news and sports brands like CNN and Discovery, whereas Netflix is only interested in WBD’s film and streaming divisions.

Of course, there are re

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